5 Centavos

The Mindanao Emergency Currency Board was one of several provincial bodies authorized to issue guerrilla currency during the Japanese occupation of the Philippines. These notes were produced under wartime conditions with whatever materials were available locally — paper stock, ink quality, and printing consistency varied considerably across issues and print runs, sometimes within the same denomination.

Saguin's board operated in Mindanao while Japanese forces controlled the major population centers, meaning this currency circulated primarily in guerrilla-held territory. The Japanese occupiers declared such notes illegal, and possession could carry severe consequences for Filipino civilians.